A diamond drill program by Royal Oak Mines (RYO-T) is testing geophysical anomalies on a property east of Timmins, Ont.
The 1,200-metre program will test four targets previously identified through an induced polarization survey. Those targets are considered prospective for both disseminated and massive sulphide mineralization.
earlier this year, the company completed three drill holes that intersected lead, zinc and copper mineralization, as well as alteration zones.
The property is owned 60% by East West Resource (EWR-V), 30% by Canadian Golden Dragon Resources (CGG-V) and 10% by Cross Lake Minerals (CRN-V). Royal Oak can earn a 50% interest there by spending $1.5 million on exploration and option payments by November 2000.
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